Core Viewpoint - First Quantum Minerals Ltd. has announced a binding agreement to sell its Las Cruces mine in Spain for up to $190 million, including a profitability-linked earn-out provision, to Global Panduro, paving the way for the development of a polymetallic primary sulphide project [1][2] Transaction Summary - The transaction includes $45 million in cash at closing, a loan note of approximately $65 million, and up to $80 million in deferred payments tied to project development milestones [2] - Additionally, there is a contingent deferred earn-out payment tied to exit and liquidity events, amounting to 10% of proceeds above an agreed internal rate of return threshold [2] Regulatory and Closing Information - The transaction is subject to customary conditions and regulatory approvals, with an expected closing during the first half of 2026 [3] About Las Cruces - The Las Cruces site, located approximately 20 kilometers northwest of Seville, produced copper cathodes from 2009 to 2021 and completed tailings reprocessing from 2021 to 2023 [4] - An updated NI 43-101 Technical Report published in February 2024 outlines plans for a next-phase redevelopment via a new underground mine to produce copper, zinc, lead, and silver [4] About Resource Capital Funds - Resource Capital Funds is a group of private equity funds established in 1998, focusing on mining sector investments across various commodities and regions [5] - RCF has supported over 235 mining companies with projects in more than 55 countries [5] Advisors - BMO Capital Markets acted as the financial advisor, while Simmons & Simmons served as the legal advisor for First Quantum in this transaction [6] - Norton Rose Fulbright provided legal advisory services to Resource Capital Funds [6]

Core Viewpoint - Orvana Minerals Corp. has initiated a phased restart of its Don Mario processing plant in Bolivia, marking a significant milestone for the company as it aims to manage commissioning risks and validate plant performance for a controlled ramp-up in 2026 [1]. Group 1: Restart and Commissioning - The initial phase of the plant restart includes bringing online the comminution and thickening circuits to supply feed to the Gold-Silver circuit, with performance verification expected through mid-January 2026 [1]. - The copper circuit, part of the Don Mario plant expansion, is scheduled to be operational in the second half of January 2026, followed by a controlled ramp-up of all circuits from February through April 2026 [1]. Group 2: Plant Expansion and Testing - The Don Mario plant expansion involves the installation of new circuits for copper oxide processing, enhancements to Gold-Silver and detox circuits, and a comprehensive overhaul of existing comminution and thickening circuits [7]. - Final on-site pilot testing is being conducted concurrently with commissioning activities, which will help update metal production estimates from processing oxide stockpiles at Don Mario [2]. Group 3: Company Overview - Orvana is a multi-mine gold-copper-silver company with assets including the Orovalle operation in Spain, the Don Mario operation in Bolivia, and the Taguas property in Argentina [3].

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Yunnan Jinxun Resources Co., Ltd. 雲南金潯資源股份有限公司 (the "Company") (a joint stock company incorporated in the People's ...

Market Trends and Demand - Metals are essential for technology, defense, and the green transition, with megatrends driving long-term demand [6, 12] - By 2035, there will be over 200,000 new wind turbines, over 1,000 new hyper data centers, and over 50 million new electric vehicles, significantly increasing metals demand [14] - Global demand for Tellurium is expected to increase by 82% from 2025 to 2035 [16] - Global demand for Tin is expected to increase by 40% from 2025 to 2035 [16] - Global demand for Gold is expected to increase by 22% from 2025 to 2035 [16] Aurubis' Strategy and Competitive Advantages - Aurubis' unique smelter network enables multimetal excellence, processing 20 metals and elements [25, 27] - Aurubis maximizes recycling rate, achieving approximately 44% recycling content in copper cathode on average [30] - Aurubis is committed to strengthening its position as a leading copper and multimetal producer [46] - Aurubis is streamlining its existing strategy portfolio, focusing on its core business of multimetal and reducing capex intensity [79] Financial Performance and Outlook - Strategic projects are expected to contribute €260 million per year in EBITDA [79] - Aurubis expects operating EBITDA between €580-680 million for FY 2025/26 [180] - Aurubis aims to reduce net working capital by approximately €500 million in the mid-term [183]

Core Insights - McEwen Inc.'s subsidiary McEwen Copper's Los Azules copper project has been included in Argentina's Large Investment Incentive Regime (RIGI), confirming its technical and financial robustness and commitment to sustainability [1][7] - A collaboration agreement with the International Finance Corporation (IFC) has been established to align the project with global standards, enhancing its appeal to international investors and positioning it for future financing [2][7] - Los Azules is the ninth-largest undeveloped copper deposit globally, targeting carbon neutrality by 2038 and aiming to produce high-purity copper cathodes for industrial use [3][7] Financial Performance - McEwen reported second-quarter earnings of 6 cents per share, missing the Zacks Consensus Estimate of 9 cents, and revenues of $47 million, also below the estimate of $55 million [5] - The company's stock has surged 67.2% over the past year, significantly outperforming the industry growth of 9.4% [6]